Romney outraises Obama yet again

Mitt Romney and his GOP allies have topped President Barack Obama’s fundraising for the third straight month, allowing his campaign to stock up its cash reserves as it prepares to enter the homestretch.

Romney’s campaign and the Republican National Committee raked in $101.3 million in July, the campaign announced Monday, the second consecutive month they’ve topped $100 million.

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The Obama campaign and the Democratic National Committee said Monday that they raised $75 million last month.

But the Democrats have been burning through cash, thanks in large part to spending tens of millions of dollars per month on advertising.

Obama’s campaign spent about $43 million in June on ads aimed to keep Romney out of the White House, accounting for the bulk of the campaign’s spending. Romney’s campaign, meanwhile, reported spending about $11 million for media production and placement.

Romney, the RNC and their joint fundraising committee announced having $185.9 million in the bank at the end of July.

The Obama campaign hasn’t yet released its cash-on-hand figures; spokesman Ben LaBolt said those numbers won’t be made public until later this month, when federal reports are due.

Republicans can also rely on well-funded super PACs like the pro-Romney group Restore Our Future and the Karl Rove-backed group American Crossroads to offer support on the airwaves. The Democrats are backed by similar groups, but they’ve got far less cash in their coffers.

Both campaigns touted their contributions from small donors last month. The Romney campaign said it received $25.7 million in donations of less than $250 in July, with 94 percent of the total donations coming from donors giving $250 or less. The Obama campaign, meanwhile, tweeted that 98 percent of its contributions came from donors giving $250 or less.

A complete picture of the campaigns’ finances won’t be available until they file their full reports to the Federal Election Commission later this month.